Mr. Speaker, I am pleased to introduce the bill to the House and have it seconded by the distinguished member for Kings—Hants, whose help has been most valuable.

I would be remiss if I did not also acknowledge the leadership and initiative demonstrated by the member for Ottawa—Vanier. It is essentially his leadership and concern reflected in the bill that has resulted in the bill being introduced.

With respect to the substance of the bill, the summary reads:

This enactment provides that an existing agreement for the transfer of certain assets and operations from...MacDonald, Dettwiler and Associates Limited to a United States corporation...and any future agreement between the same parties for a similar purpose is of no effect unless it is approved by both Houses of Parliament.

The sale of MDA to the U.S. company would substantially jeopardize Canada's technological sovereignty and, in addition, 1,900 jobs would be lost directly, with thousands of other jobs being negatively affected indirectly.

A line in the sand must at some point be drawn. Canada is not for sale. Our technological sovereignty is not for sale.

The bill would have retroactive effect. The agreement entered into between the potential buyer and the seller in January would be rendered null and void, no matter when the sale is consummated, unless the agreement has been approved by a majority vote of the House of Commons and the Senate.